Oh the peso, how you've grown!

I'm not an expert on monetary policy, but since I have arrived, the Chilean peso (CLP) has appreciated quite dramatically against the US dollar. On December 1, US$1.00 would buy about 515 pesos. Now US$1 buys only 450 pesos, a drop of 12.6% in three months. If I were an investor, that kind of return (assuming I was holding pesos, not dollars) would be quite nice! You can follow the exchange rate with me here.